Fortune brings back Massola to help advance Nico project
Canada's Fortune Minerals has rehired mining executive David Massola as VP of business development, tasking him with guiding the company’s Nico critical minerals project toward financing and construction.
Massola, who previously served as Fortune’s CFO from 2016 to 2020, returns with more than three decades of mining industry experience, including senior roles at BHP Group, De Beers Canada and several junior developers. He will be based in Toronto.
His responsibilities will include corporate and project financing, joint ventures, and negotiations with First Nations for participation agreements tied to the cobalt/gold/bismuth/copper project.
The Nico project, located in Canada’s Northwest Territories with a planned processing facility in Alberta, is designed to produce cobalt sulphate for batteries, as well as gold, bismuth and copper. The deposit hosts about 1.1-million ounces of in-situ gold, which the company views as a countercyclical co-product to mitigate metal price volatility.
Massola’s career includes two decades at BHP, where he worked at mines in Chile, British Columbia and the Northwest Territories, and later as CFO of De Beers Canada during development of its NWT and Ontario mines. He has also held senior roles at GlobeStar Mining, Continental Nickel and GoldQuest Mining.
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